ValuEngine upgraded shares of Jabil Circuit, Inc. (NYSE:JBL) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.
Several other brokerages have also commented on JBL. BidaskClub lowered Jabil Circuit from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. Royal Bank Of Canada upped their target price on Jabil Circuit from $27.00 to $31.00 and gave the company a sector perform rating in a research report on Thursday, June 15th. UBS AG restated a buy rating and set a $35.00 target price (up previously from $30.00) on shares of Jabil Circuit in a research report on Friday, June 16th. Needham & Company LLC restated a buy rating and set a $37.00 target price on shares of Jabil Circuit in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered Jabil Circuit from a buy rating to a hold rating in a research report on Tuesday, May 16th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $29.31.
Jabil Circuit (NYSE JBL) opened at 30.44 on Thursday. The company has a market cap of $5.46 billion, a PE ratio of 46.83 and a beta of 0.55. The firm’s 50-day moving average price is $30.44 and its 200-day moving average price is $29.26. Jabil Circuit has a one year low of $20.32 and a one year high of $31.70.
Jabil Circuit (NYSE:JBL) last released its quarterly earnings results on Wednesday, June 14th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Jabil Circuit had a return on equity of 12.27% and a net margin of 0.66%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that Jabil Circuit will post $2.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, August 11th. Jabil Circuit’s dividend payout ratio (DPR) is presently 50.00%.
Jabil Circuit announced that its Board of Directors has approved a stock repurchase program on Thursday, July 20th that authorizes the company to repurchase $450.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, COO William D. Muir, Jr. sold 19,866 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $29.34, for a total value of $582,868.44. Following the completion of the sale, the chief operating officer now directly owns 597,085 shares of the company’s stock, valued at $17,518,473.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank A. Newman sold 60,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $29.52, for a total value of $1,771,200.00. Following the completion of the sale, the director now directly owns 127,665 shares of the company’s stock, valued at $3,768,670.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,387 shares of company stock valued at $5,111,014. Company insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC increased its position in shares of Jabil Circuit by 142.6% during the second quarter. IHT Wealth Management LLC now owns 359 shares of the technology company’s stock valued at $159,000 after acquiring an additional 211 shares during the last quarter. Advisor Group Inc. increased its position in shares of Jabil Circuit by 68.2% during the second quarter. Advisor Group Inc. now owns 5,765 shares of the technology company’s stock valued at $168,000 after acquiring an additional 2,337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Jabil Circuit by 9.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,054 shares of the technology company’s stock valued at $177,000 after acquiring an additional 547 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Jabil Circuit during the second quarter valued at approximately $206,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Jabil Circuit during the first quarter valued at approximately $218,000. 93.00% of the stock is owned by institutional investors.
About Jabil Circuit
Jabil Inc, formerly Jabil Circuit, Inc, provides electronic manufacturing services and solutions throughout the world. The Company operates in two segments, which include Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS). The Company’s EMS segment is focused on leveraging information technology (IT), supply chain design and engineering, technologies centered on core electronics, sharing of its large scale manufacturing infrastructure and the ability to serve a range of markets.
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